Monadnock Development
(Monadnock Construction)
People:
Monadnock Development NYC portfolio
$1.9 billion -elevator 23%, development 18%, industrial 15%; Brooklyn 56%, Manhattan 31%, Bronx 11%*
120th largest portfolio by dollar value
2,377,089 sqft – elevator 57%, walkup 16%, D7 9%; Manhattan 73%, Bronx 15%, Brooklyn 10%
199th largest by SF
86 properties – Manhattan 43%, Brooklyn 43%, Bronx 12%
81th largest
4,164 residential units – Manhattan 59%, Brooklyn 31%, Bronx 8%
67th largest by residential units
Company Activity past 24 months:
Buyer company: 2 for $49 million
Seller company: 1 for $26.3 million
Borrower company: 3 for $315.4 million
Developer (new building or major alteration): 1 for 415,944 square feet
Top Ten Associated Companies:
NYC Housing Development Corporation (5), Wells Fargo (2), NYS Housing Finance Agency (2), New York City Housing Authority (1), CUNA Mutual Group (1), Wavecrest Management (1), Monadnock Development (1), M&T Bank (1), Amalgamated Bank (1), Bank of America (1)
Top Ten Associated People:
Lauren Connors (1), Joseph M. Camerata (1), Eric Sadkin (1), Patrick Love (1)
Recent activity as company:
• Avery Hall Investments, Brodsky Organization and Monadnock Construction borrowed $30 million from Maxim Capital Group for 962 Pacific Street on April 14, 2026.
• Albert Appleton sold N/A Dean Street, Crown Heights, Brooklyn for $16 million to Avery Hall Investments, Brodsky Organization and Monadnock Construction on April 14, 2026.
• Nadine N. Oelsner sold 962 Pacific Street for $33 million to Avery Hall Investments, Brodsky Organization and Monadnock Construction on April 14, 2026.
• Monadnock Development borrowed $175 million from U.S. Bank for 144 2 Street on November 14, 2025.
• Monadnock Development sold 115 West 141 Street for $26.3 million to Wavecrest Management on July 19, 2024.
• Monadnock Development borrowed $110.4 million from NYC Housing Development Corporation for 890 Erskine Street on April 26, 2024.
• Gotham Organization, Christian Cultural Center and Monadnock Development borrowed $217.4 million from NYS Housing Finance Agency and NYC Department of Housing Preservation and Development for 25 Innovation Way East on March 27, 2024.
• Christian Cultural Center sold 25 Innovation Way East for $13.9 million to Gotham Organization, Christian Cultural Center and Monadnock Development on March 27, 2024.
• Monadnock Development and Project Renewal borrowed $102.9 million from NYC Housing Development Corporation and New Providence (Shelter) Deal ID No. 50008926 for 225 East 45 Street on December 21, 2023.
• Brookdale Hospital Medical Center sold 113 East 49 Street for $26.7 million to Monadnock Development on December 13, 2023.
Latest Stories:
• Monadnock signs $110.4M construction loan for 189-unit project in East New York (May 06, 2024)
• Monadnock, Project Renewal sign $102.9M construction loan in Grand Central (January 29, 2024)
• Monadnock pays $26.7M to Brookdale Hospital for dev site in East Flatbush (December 18, 2023)
• Nonprofit files plans for 21-story shelter in Grand Central (April 05, 2023)
• Monadnock Development signs $107.9M construction loan in East New York (January 09, 2023)
• Monadnock Development signs $42.5M loan for office development in Gowanus (December 20, 2022)
Properties: